According to an official at a large-scale steel producer in central
China, several domestic mills have received
iron ore quotations for the third quarter from the big three global
iron ore mining giants,
Rio Tinto,
BHP Billiton and
Vale.
The price levels in question are reported to be mostly at the same levels as in Q2 or down slightly by $1-2/mt. Accordingly, Q3 quotations of 62 percent BP fine ore from Australian miner
Rio Tinto are standing at about $177/mt CIF, while Q3 quotations of 66 percent fine ore from Brazil-based
Vale are at about $198/mt CIF.
Iron ore offers from
Australia's
BHP Billiton to Chinese mills are at about $175/mt CIF.
In addition, current ex-India quotations of 63.5 percent fine ore are at $178-180/dry metric ton CIF
China, down $10/mt compared with early May.